Technical Analysis

BOJ Dep Gov Wakatabe says absolutely no change in BOJ commitment to continue easing

Eamonn Sheridan

Eamonn Sheridan

Thursday, 02/02/2023 | 01:37 GMT-0

02/02/2023 | 01:37 GMT-0

Bank of Japan Deputy Governor Wakatabe

  • BOJ will continue to conduct monetary policy to achieve 2% inflation
    accompanied by wage growth
  • global economy to
    slow temporarily but likely to pick up as inflationary pressure eases
  • Japan’s economy
    likely to continue recovering
  • corporate inflation
    expectations shifting up somewhat
  • what is most
    important is for changes in price, wages to be sustained, lead to
    achievement of 2% inflation target in stable, sustainable fashion
  • there is absolutely
    no change to BOJ ‘s commitment to continue monetary easing
  • our monetary easing
    was clearly effective in propping up economy
  • efforts to boost
    long-term economic growth don’t conflict with steps to stabilise
    economy including monetary easing
  • making central
    bank’s price target ambiguous would hurt transparency of monetary
    policy, effect of policy steps
  • inflation target is

USD/JPY is up a few ticks on the dep gov reiterating the bank’s commitment to maintain very loose monetary policy.

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